COSBOA hosts roundtable on poor SME access to finance

THE Council of Small Business of Australia (COSBOA) will host a roundtable discussion, today (May 29) in Canberra, to get the facts straight about access to finance for small business in Australia. Most business organisations point to a crisis in financing small business in the current environment that is charting record business failures, commercial asset depreciation, challenging loan-valuation ratios and higher business finance criteria set by banks since the Global Financial Crisis.

 

The discussions from the roundtable are expected to set the agenda for the National Small Business Summit staged by COSBOA, sponsored by NAB, and being held on July 24-25 in Brisbane.

COSBOA CEO Peter Strong said the roundtable discussions will involve key government and business stakeholders and the outcomes will contribute to a new report, Access to Finance for Small Business, expected to be released at the National Summit.

Mr Strong said the roundtable would provide an open forum for key decision makers to talk about whether finance for small business really is an issue in Australia's current economic climate.

“Access to finance for small business is a topic that is constantly discussed in the media, industry associations and policy makers," Mr Strong said.

"However some of the facts and figures that will be presented on the day may surprise some people. We need to talk openly about the key financial issues impacting small businesses, particularly those that wish to grow, to help inform and progress the debate and policy.”

Event: COSBOA, Access to Finance for Small Business Roundtable Discussion Date: Wednesday, 29 May 2013 Time: 9:30AM – 3:00PM Location: The Realm Hotel, Canberra 19 National Circuit, Barton ACT 2600 RSVP: Please RSVP by 4:00pm Tuesday, 28 May 2013, to Maria Ferreira via This email address is being protected from spambots. You need JavaScript enabled to view it. to confirm your attendance.

The roundtable discussion and resulting Access to Finance for Small Business report is a collaborative project between COSBOA and the Australian Bankers Association (ABA), including Steven Münchenberg, CEO, ABA.

Also attending and speaking throughout the day will be senior stakeholders and representatives from the RBA, ASIC, APRA, ATO, Treasury, the office of the Federal Small Business Commissioner, NSW Small Business Commissioner, and the Department of Industry, Innovation, Science, Research and Tertiary Education.

The roundtable discussion is being held between 9,30am and 3pm at The Realm Hotel, Canberra.

ww.cosboa.org.au

ends